Nikki Finke is reporting that Halcyon has sold the rights to the Terminator franchise for $29.5 million.
The winning bid was made by Pacificor, the debtholder company who pushed Halcyon into the bankruptcy state that forced this sale to begin with.
The sale eliminated the debt Halycon owed, and despite selling the rights, they will still receive $5 million for every Terminator movie made and retain the revenue stream from Terminators 3 & 4.
That seems fishy to me, but I don’t understand every angle of this tricky business of movie rights combined with financial failure, so I may not see every angle, but the fish tank seems full to me!
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Wow from what I can gleam from this headline is that Pacificor was a safety-net corporation in all this.
(In laymens terms) It looks to me like this was all staged by Halcyon to dump the stock that is Terminator. When the bids didn’t reach the level they wanted, big bam boom, loop-hole contingency in the formality lawsuit!
Back to the beginning with it all… Very clever.